My parents worked and borrowed to pay for college. The money they had to spend on student loan interest is money they could not save for my education. I worked and borrowed to pay for college. The money I am spending on student loan interest is money I cannot save for my children's education. They will probably have to work and borrow for college.
This cycle siphons wealth over generations from hard-working families to the lenders, primarily corporate banks whose stockholders are the 1%
"Think about those people who were deceived into thinking that taking out those loans would be 100% okay"
Not to sound unsympathetic, but every time someone told me this this sounded like total BS to me. "Take out a massive loan, and give me the money to provide an extremely overpriced service to you!" I kind of feel bad for the people who did this, but at the same time I'm kind of confused that anyone believed this.
My one question is, interest is based on risk, if you cannot wipe out debt by bankruptcy, there is no risk, so why are students paying 8-12 percent interest on student loans???? that is the real question that must be asked of legislators. If you cant wipe it out, then it should be a zero rate loan, period.
Well, to be somewhat fair, before looking at the median income, you should separate students below and above a C average. That's generally the line that separates those who are skilled or have ambition, and those who see education as a necessary evil or lack skill. At my university, we've had talks by leaders of local high-tech industry (world leading high-tech in several fields) and they emphasize this with anything below a C on your record as a character reflection. Though A vs B matters less.
Are we sure Anna is representing those stats right? Is it not x% of those who file for bankrupcy are students rather than x% of students file for bankrupcy?
Hey JR Jackson, you know why the cost of living is so high? Because the goverment gets involved in medical needs and education and drives up the costs. And then they have a federal reserve creating freemoney, causing inflation. It is the GOVERMENT making the cost of living high.
No goverment grants or loans SHOULD EVER BE ALLOWED. Goverment has no buisness doing this. If people want college, let them pay for it! Fuck this taking from the taxpayer, and then handing to "students". This is just another program created for the negros.
Simple solution. Graduate, get a job, spend a year building your credit rating, take out a private loan, use that money to pay off student loan and then file for bankruptcy on the private loan.
I worked at Kohl's with a laid off MBA grad and a girl with an bachelors in English. The MBA grad was later laid off from Kohl's(while a new wave of Kohl's employees came in) and now she is working at Petco. Very sad how the economy is right now. I wouldn't say an MBA is a useless degree.
@BigBaldAndBadass How many kids do the free ride thing and how many kids take their education and the loans to pay for it seriously? Those kids that take the loans to party, they flunk out before they incur a massive debt. It's the kids who take their education seriously who incur the massive debt by finishing.
Do you know how much it costs to get a degree these days?
Do you have any idea how bad the job market is for kids coming out of school in the past 10 years or so?
Kids that take their education seriously yet study in a field where there are no jobs waiting for them have not thought things through. College is a waste of money, period. A piece of paper that these people think will get them an instant job. Sorry but it does not work that way and it never has.
@BigBaldAndBadass Maybe you haven't noticed the bad economy, but pretty much all graduates, regardless of which field of study they chose.
College isn't a waste of money. No one thinks they will get an instant job, a degree will provide you with higher paying jobs in the long run than without one.
Now, how about you answer my points instead of constantly changing the subject. I called you out on you making statements without evidence, and you change the subject.
1. The cost of the degree would vary depending how many years are needed for completion. You should know this.
2. These kids spending tens of thousands of dollars on a degree that they knowingly are not going to be able to use because the job market is so low have no one to blame but themselves.
I did not go to university and i am doing just fine. Paying my bills and have zero debt.
@BigBaldAndBadass According to some reputable .gov sources on the web(which I can't post here), business is the most common major by a long shot, followed by sciences and the arts at the very bottom.
I really despise those who can't take off their "ME" glasses and see that everyone else IS NOT YOU, thus, not living your life and experiencing the exact same thing as you. I hope to God you will never experience the plight of my generation because it is so bleak and depressing.
1. The longer you stay in college, the bigger your debt gets. Flunk out in the first semester and you'll accrue very little debt. Finish medical school......
2. Job market is bad NOW. Anyone with common sense knows that the economy fluctuates. With or without a degree now, it's bad. But when the market comes back, you'll be better off with a degree.
3. If your "goals" gets you 50k into debt that you can not pay back then it is safe to say it is a failed ambition and you are a failure. I had goals that did not include college and i am a success. Don't dream big if you can not back it up. Nice talking with you.
@BigBaldAndBadass You seem to have trouble grasping the idea that the economy fluctuates over time. You also seem to have trouble grasping the idea of long-term thinking.
I'm going to take a wild guess and guess that you're a conservative.
Minimum payment is $700/month...at my current rate I should have it 3-4 years....big mistake.
CC and finishing your BS later somewhere else is a much better idea, you're debt will be at least half as much if not less considering you accrue interest while in school...and trust me that interest can be a lot, $8k in my case.
People need to think before they rack up ridiculous student loans. Now they government via direct loans will blanket pay off the entire balance of your loans if you work for the government for 10 years. So, you just apply for income based payments which for me wouldn't even cover the interest generated each year and after 10 years *poof* they are gone. How is that fair for the american tax payer? Why should we encourage citizens to depend on the government like this?
People need to think before they rack up ridiculous student loans. Now they government via direct loans will blanket pay off the entire balance of your loans if you work for the government for 10 years. So, you just apply for income based payments which for me wouldn't even cover the interest generated each year and after 10 years *poof* they are gone. How is that fair for the american tax payer? Why should we encourage citizens to depend on the government like this?
I think it is the inability to borrow. I have a credit score of 714 and applied a secure line credit card, where I can only charge as much money as there is in my savings account and still got denied. This card is for starting or building credit, WTF?!?!?!?
GOD MOTHER $*$&% SON OF A *#%* $* TO THE HOLY $#%89 APPLESAUCE ....i missed a whole lot of young turk vids...what the hell happen tomy subscription box??
We need to seriously look deep at our society's current problems and devise laws and regulations to make this country more fair and equal for everyone. The business cycle is broken; Business no longer needs to rely on its consumers in their country of origin to generate profit for them which they should re-invest in hiring so those people in-turn have more disposable income to spend on those businesses. Our credit system and global economy have solved that problem for them
by getting a college education and ultimately a job within their country of residence. I personally have bypassed the job agenda (which obviously is never guaranteed) and have begun making $ the way they do; by long term investment gains, hedging on pullbacks and speculation on the global marketplace. Unfortunately not everyone should or could or wants to do that for a career and they shouldn't have to because overall it is not beneficial to societal growth.
I find it irritatingly ironic that I as a united states tax payer have via taxes paid to keep certain institutions & their shareholders afloat while they continue to treat consumers and creditors as essentially financial serfs (someone who is working for some else's wealth and not their own because of borrowed opportunity.) By that logic I guess they should be owing society a debt by ensuring that the current generation of graduates feels comfortable enough to contribute to society as a whole
The fact of the matter is that if a corp/business is getting subsidized by our collective taxes via govt, they should be required to use a portion of that saved $ to hire in their country of operation. This will give college student more incentive to take the leap to get in debt because they will feel more reassured that they will have a chance of finding a decent paying job in their specific field of study after grad.
I am not blinded to the fact that school is a privilege that does not always pay off depending on choice of study. One can argue that this is because there is no law saying that corporations/business have to use the billions they save every year in tax subsidies or general profit to ensure that jobs are created in the united states. In fact many of them view high unemployment as a positive aspect that can help them cut costs associated with the cost of employment (salary and benefits)
"deceived" is the key word in this clip. Deception is the main tool of the system to get people in perpetual debt. Add a 30 year house mortgage, 5 year cars loans for then next twenty years and you have the ideal American citizen. Uninformed and in debt for the better part of his/her life.
When you look at the way the cost of a college education has expanded over the last few decades, it's now reaching the point where students, even with loans, simply cannot pay the outrageous, unjustifiable fees that colleges are paying for a degree these days.
I personally think that the university degree is going to be the next big bubble and sometime soon it's going to bust.
My student loans are 797 a month.. They would be nearly double that, but they were consolidated on the 30 year plan.. Was my education worth it? I think so, but it's been tough to save money/live.. If I lost my job, I'd need bankruptcy cuz I couldn't pay other debt.. The government got a lot more taxes out of me after my education, and I'm also paying a sh*load of loan costs.. and since interest rates are way down, I could save by refinancing, but the govt only allows that once..too late.
huge number of students end up with a worthless degree and a huge debt because gov't provides the loans, the universities/colleges jack up the prices simply because they know that the money will be transfered to them from the government and students are used as collateral.
watch?v=Q6DRXk9Ufv4 minute 26. Cummings comes off as an idiot, who wants more so called "education", and Schiff SCHOOLS him in Congress
And this is why I'm opposed to the death penalty and to correct Ana, it costs more to keep a prisoner on death row than it does to impose a life sentence. Peace.
Obama is not going to do shit for our students. They are the future of America. If I were still in college I would be fucking furious. These for profit colleges are a God Damn scam as well. STUDENT'S are the new voice of America.
Liberals beleive college is for everyone (when in fact its for the top 20% IQ wise) and so they force banks to give out student loans. The banks lend this money to people who don't have the IQ to put their college education to use (people who major in journalism and communicatiosn for example) and thus these people would bankrupt the debt if they could. Banks make sure they can't so they can make their money back. But to be fair banks like having people who owe them a lifetime of debts.
@IMPALEXANDERAVG First off, Liberal have never said "College is for everyone". You Conservatives are experts in lying and slander! You Conservatives lie so much that if you looked at your watch and told us what time it is, we still wouldn't believe you!
@IMPALEXANDERAVG Education should be MUCH cheaper then it is so everyone has better access to education, therefor a better critical thinking society. But that's not what the elitist want. They want obedient workers. Obedient workers. Just knowledgeable enough to do their job, blindly going forward and accepting orders. They don't want a mass of people capable of critical thinking, or their rig would be up and their pyramid ponzi capitalist scheme would destroy itself quickly.
If they made it that student loans will disappear after u file for bankrupcy then shit, every student will borrow as much as possible and file for bankrupcy after they finish.
I'm still paying off my loan. 10 years later and they keep racking up my interest rates. If I keep paying I'll be fully paid off by age 46. It's very debilitating. I haven't used credit since 2002. I got my loan in 1999 when America had a functional economy. It's the constant upkeep and rate hikes that eventually destroy you.
FUCKING TYPICAL COLLEGE KID: SELF ENTITLED DOUCHE BAG WHO DIDN"T THINK ABOUT THE REPERCUSSIONS OF GOING TO THE MOST EXPENSIVE COLLEGE ASSUMING THAT JUST BECAUSE THEY ARE FROM THE SUBURBS THAT THEY WOULD GET A JOB , GET A SKILL
College and University are not for everyone. People think they are entitled to go to post secondary education and take on massive debt to do so. Pick up a skilled trade for fuck sakes, there are other options than getting into massive debt.
@MrHav1k Lol. You dont even know how hard real work is kid. As far as subsidies go... EVERYTHING is fucking subsidized dumbass. Farmers are subsidized, and you eat, so your ass eats subsidies.
@MrHav1k Sitting in front of a computer at a desk and fondling your dick isn't a real job
working with your hands, feeling tired at night, breaking a sweat
that's a real job. I know what kind of fucked up world you live in where sitting in front of a screen is a real job, It's called the year 2011, and it is fucked
@Atakumosa Politics does that to many my friend im not too different :P!
The educational spirt is surely damped yes, class division, motivation ect. But if people focued on what they can bring to a job and not what education has specialised in as being a restriction they would perhaps be less disheartened, I do law perhaps i could be a legal journalist ect? If you are into a subject enough i feel you look into it enough in your own time, education state and personal is important
@Atakumosa Policies over figureheads really although of course you would be stupid to think that the president is not important!
Well im personally a law student and it's a tough little market im working on volunterring in a legal advice centre and im good at say research ect it has uses outside of law and the various aspects of law can't hurt to know in any business situation. But yeah it is a big waste but in terms of what they can do it's still advancement real or potential i would say?
My mom has been hounding me to transfer to a four year and get my BA but I am literally terrified. I told her I will transfer to one of the local Cal-States because I know I can get a grant to attend there. I have yet to get a loan and I really don't plan to.
Someone really needs to look over these Financial Aid Officers out there forcing loans down students throats and feeding them bullshit about how their BA in Art History is going to guarantee them a 6 figure income. They do not do a thing to tell people about what they are getting into. It's just "here's a pen, don't blow all your loan money on a new, shiny laptop! *wink, wink*". Not to mention the fact they tell people to lie on the aid forms to qualify for more.
@Atakumosa That's true but the knowledge allows them to be trained in the workplace in terms of wisdom im personally doing a degree which is very academic and although my course is more skill based then most we have to learn it outside but we can still in some ways contribute to tax and advancement ect
@dunndudebemelol We get to put it of a few times, but not really, we just pay and pay. you may get on a program that takes a percentage of your pay, forever.
@darbone Thanks things make so much more sense now, we pay it only after earning a set wage works well, the govenment there seems to forget that to remain competitive it needs high end skills in my opinion
But he's right. Americans can't handle money. Responsibility isn't taught nearly as well as memorization in most American schools. School is used to prepare us for every standardized test we have to take to get into higher education, so instead of teaching critical thinking or responsible thinking students are just taught "OK. You need to know this, this, this, and that if you want to pass this test." Memorization and repetition in place of strategy and critical thought. It's bad
@hoard88 Woah, I would be cautious not to single out America in being irresponsible with money. Look at current economic state in Europe and the reasons as to how they got there.
@hamzeeco They start garnishing your wages and going after your cosigners, if you have any. Government loans are more forgiving, but private loans never go away.
Bankrupcy costs everyone, so fix it. To the students, get a huge bill and write it off. aftewr a few years you can use your degree and make up for lost time and money. Screw the system that screws you.
I wanted to do a Bachelor of Biology, but saw the bogus bill and decided to stay happily unemployed. Now the nation has one less scientist and a burden to pay for. Ultimately, it's their fault because I am not a cash cow.
This kind of thing is what Income contingent repayment plans (offered for federal aid) are for. Yes, it's real shitty to have it hanging over your head like that, but at least you won't have to break yourself keeping up payments.
The worst part of it all is the fact that most of these students signed off on these loans at the age of 18. Student loan companies are the worst at taking advantage of young adults who wish only to lead a good life and pursue the American dream.
I fell into this and got cancer and couldn't pay, didnt pay for 6 years and you know what im fine. Living with parents as they do understand cause I am the first to go to college. I have one more year to go and that will be wiped off my record , ill have my credit back , and I can start over this time smarter.
I joined the army to pay off $60K of my debt - thankfully I was never deployed. If you want information about the best way to do this, message me - I made some key mistakes and would have done things differently.
Can you imagine if the money borrowed (to go to war)had gone toward investing in green tech? $14 T and you would have had green jobs, healthy lungs and unknown plethora of positive repercussions down the road. Instead, Enron and MIC etc gets a boner so it can rape boney cancerous/starving asses everywhere and it's CEO's can buy useless garbage for their revolting descendants to inherit/shit all over.
Humans are SO FUCKING STUPID! QUIT TRYING TO PAY THEM BACK FOR ROBBING YOU!!!
Worked full-time all through undergrad, so it only took a few years to pay off that student loan. Graduated 6 months before 9/11. Couldn't find a job, went to grad school. Still owe 43k 10 years later. Was a big mistake. Paying 200 a month, but trying to pay extra when I can.
student's responsibility to get the right major to get the right job with hard work and perseverance to eventually pay off the student loan debt.
other than that, SCHOLARSHIPS. Best invention of the world, money given away by people who WANT to help students out. Long and tedious process but so worth it in the end.
@kmelfina Scholarships, and send back extra when you get it if you can. (Not always an option and not everybody gets extra money from federal/state aid, but when you can...)
Students who can't afford loans for college should realise there are other options. I would rather have no degree be debt free and teach myself for educational satisfaction. I would do other courses that are much cheaper and go into a job and work my way up..... financial entrapment isnt our only option.
Thank gandhi my parents put aside money and are paying for my college costs. Although technically I'm supposed to eventually pay them back, but pretty sure they'll forget about it.
americans should go to sweden to get an education for free. we have plenty of programs in english. and a one bedroom apt cost under 500 dollars/month.
Join the military my school is paid for and I get a check every month. My day consists of pumping iron,school and boxing in the evening. I also bounce on the side so yeah doing the military route was the best decision I made.
In theory you could take out a regular bank loan, pay off your student loan with that and then go bankrupt and the bank loan would be wiped. However, you might not want to mention the purpose of the loan when you do that :o)
The California bankruptcy system is fucking stupid, where I'm from if you file for bankruptcy, it takes all debts, all loans including student loan, and puts it on the taxpayer.
and you are indebted to the bankruptcy agency for minimum of 7 years, but it costs you way less.
What is the point of filing for bankruptcy if it doesn't get rid of the debt you can't pay?
You forgot about medical debt. I would say thats a huge reason people go bankrupt. What are you suppose to do if your sick but make under 20k. Your health is more important than your credit.
@dangerouslytalented If you're going to go to a public school in the EU, you're going to have to learn the language of the country or specific area. If you were to go to Spain, France, Germany, Italy... While some people do know English, it's often very limited and it's not assured that all your professors or all your classes will be in English. Besides... what if you've to open a bank account, call the police, go to the hospital, post office etc. I'm speaking from self experience:)
@dangerouslytalented As I said... "While some people do know English, it's often very limited and it's not assured that all your professors or all your classes will be in English." Besides... why would you want to limit what you learn out of laziness to learn a language?
@jordana8899 Why would you call someone a ''fucking big nose Jew"? Did a Jew kick your ass and take your woman? I'm not Jewish, but you are an inbred piece of white trash.
My parents worked and borrowed to pay for college. The money they had to spend on student loan interest is money they could not save for my education. I worked and borrowed to pay for college. The money I am spending on student loan interest is money I cannot save for my children's education. They will probably have to work and borrow for college.
This cycle siphons wealth over generations from hard-working families to the lenders, primarily corporate banks whose stockholders are the 1%
manonthemount 1 month ago
Yeah, in England we just have a loan that we don't pay back until we earn more than £16,000 per year.
TheVeeginator 2 months ago
"Think about those people who were deceived into thinking that taking out those loans would be 100% okay"
Not to sound unsympathetic, but every time someone told me this this sounded like total BS to me. "Take out a massive loan, and give me the money to provide an extremely overpriced service to you!" I kind of feel bad for the people who did this, but at the same time I'm kind of confused that anyone believed this.
coopclauson 2 months ago
My one question is, interest is based on risk, if you cannot wipe out debt by bankruptcy, there is no risk, so why are students paying 8-12 percent interest on student loans???? that is the real question that must be asked of legislators. If you cant wipe it out, then it should be a zero rate loan, period.
HappyGuyMikeF 4 months ago
Well, to be somewhat fair, before looking at the median income, you should separate students below and above a C average. That's generally the line that separates those who are skilled or have ambition, and those who see education as a necessary evil or lack skill. At my university, we've had talks by leaders of local high-tech industry (world leading high-tech in several fields) and they emphasize this with anything below a C on your record as a character reflection. Though A vs B matters less.
gulllars 5 months ago
How fucked up is your planet right now ? Just think about it .
phonecpus 5 months ago 2
Are we sure Anna is representing those stats right? Is it not x% of those who file for bankrupcy are students rather than x% of students file for bankrupcy?
jimbobjimminy 5 months ago in playlist More videos from tytuniversity
Hey JR Jackson, you know why the cost of living is so high? Because the goverment gets involved in medical needs and education and drives up the costs. And then they have a federal reserve creating freemoney, causing inflation. It is the GOVERMENT making the cost of living high.
calimar28 5 months ago
No goverment grants or loans SHOULD EVER BE ALLOWED. Goverment has no buisness doing this. If people want college, let them pay for it! Fuck this taking from the taxpayer, and then handing to "students". This is just another program created for the negros.
calimar28 5 months ago
Simple solution. Graduate, get a job, spend a year building your credit rating, take out a private loan, use that money to pay off student loan and then file for bankruptcy on the private loan.
LizTaylorsGhost 5 months ago in playlist More videos from tytuniversity
Damn, that's more than I pay for rent each month.
allyadelphine 5 months ago
Why hire a American grad student when you have a international market place of cheap educated labor force to exploit?
SteelMartini 5 months ago
Comment removed
22banway 5 months ago
I worked at Kohl's with a laid off MBA grad and a girl with an bachelors in English. The MBA grad was later laid off from Kohl's(while a new wave of Kohl's employees came in) and now she is working at Petco. Very sad how the economy is right now. I wouldn't say an MBA is a useless degree.
22banway 5 months ago
This has been flagged as spam show
When Palin becomes President, this will NOT be a problem whatsoever!
ecwaufisxtreme 5 months ago
1. Take out student loan.
2. Spend student loan on drinking, clothes and other shit you do not need.
3. Cry about not being able to afford to pay student loan back because you didn't get that 200k a year job straight out of college.
BigBaldAndBadass 5 months ago
@BigBaldAndBadass It's so much easier to pretend that there isn't a problem when you can put the blame on the people who have the problems, isn't it?
sleazybtd 5 months ago
@BigBaldAndBadass It's so much easier to pretend that there isn't a problem when you can put the blame on the people who have the problems, isn't it?
sleazybtd 5 months ago
@sleazybtd
There may be a problem but it is kids that think a student loan is a free ride are the bigger problem.
BigBaldAndBadass 5 months ago
@BigBaldAndBadass How many kids do the free ride thing and how many kids take their education and the loans to pay for it seriously? Those kids that take the loans to party, they flunk out before they incur a massive debt. It's the kids who take their education seriously who incur the massive debt by finishing.
Do you know how much it costs to get a degree these days?
Do you have any idea how bad the job market is for kids coming out of school in the past 10 years or so?
sleazybtd 5 months ago
@sleazybtd
Kids that take their education seriously yet study in a field where there are no jobs waiting for them have not thought things through. College is a waste of money, period. A piece of paper that these people think will get them an instant job. Sorry but it does not work that way and it never has.
BigBaldAndBadass 5 months ago
@BigBaldAndBadass Maybe you haven't noticed the bad economy, but pretty much all graduates, regardless of which field of study they chose.
College isn't a waste of money. No one thinks they will get an instant job, a degree will provide you with higher paying jobs in the long run than without one.
Now, how about you answer my points instead of constantly changing the subject. I called you out on you making statements without evidence, and you change the subject.
sleazybtd 5 months ago
@sleazybtd
1. The cost of the degree would vary depending how many years are needed for completion. You should know this.
2. These kids spending tens of thousands of dollars on a degree that they knowingly are not going to be able to use because the job market is so low have no one to blame but themselves.
I did not go to university and i am doing just fine. Paying my bills and have zero debt.
BigBaldAndBadass 5 months ago
@BigBaldAndBadass According to some reputable .gov sources on the web(which I can't post here), business is the most common major by a long shot, followed by sciences and the arts at the very bottom.
I really despise those who can't take off their "ME" glasses and see that everyone else IS NOT YOU, thus, not living your life and experiencing the exact same thing as you. I hope to God you will never experience the plight of my generation because it is so bleak and depressing.
22banway 5 months ago
@BigBaldAndBadass
1. The longer you stay in college, the bigger your debt gets. Flunk out in the first semester and you'll accrue very little debt. Finish medical school......
2. Job market is bad NOW. Anyone with common sense knows that the economy fluctuates. With or without a degree now, it's bad. But when the market comes back, you'll be better off with a degree.
3. Good for you. Other people have goals in life.
sleazybtd 5 months ago
@sleazybtd
3. If your "goals" gets you 50k into debt that you can not pay back then it is safe to say it is a failed ambition and you are a failure. I had goals that did not include college and i am a success. Don't dream big if you can not back it up. Nice talking with you.
BigBaldAndBadass 5 months ago
@sleazybtd
2. The only place the market is comming back is anywhere but North America and Europe. Guess you could always move.
BigBaldAndBadass 5 months ago
@BigBaldAndBadass You seem to have trouble grasping the idea that the economy fluctuates over time. You also seem to have trouble grasping the idea of long-term thinking.
I'm going to take a wild guess and guess that you're a conservative.
sleazybtd 5 months ago
@sleazybtd
You obviously have no idea what shape the economy is in or the reasons behind it. I would say you are a conservative with your line of thinking.
BigBaldAndBadass 5 months ago
Minimum payment is $700/month...at my current rate I should have it 3-4 years....big mistake.
CC and finishing your BS later somewhere else is a much better idea, you're debt will be at least half as much if not less considering you accrue interest while in school...and trust me that interest can be a lot, $8k in my case.
duracellh 5 months ago
This has been flagged as spam show
People need to think before they rack up ridiculous student loans. Now they government via direct loans will blanket pay off the entire balance of your loans if you work for the government for 10 years. So, you just apply for income based payments which for me wouldn't even cover the interest generated each year and after 10 years *poof* they are gone. How is that fair for the american tax payer? Why should we encourage citizens to depend on the government like this?
cydonia21 5 months ago
People need to think before they rack up ridiculous student loans. Now they government via direct loans will blanket pay off the entire balance of your loans if you work for the government for 10 years. So, you just apply for income based payments which for me wouldn't even cover the interest generated each year and after 10 years *poof* they are gone. How is that fair for the american tax payer? Why should we encourage citizens to depend on the government like this?
cydonia21 5 months ago
I think it is the inability to borrow. I have a credit score of 714 and applied a secure line credit card, where I can only charge as much money as there is in my savings account and still got denied. This card is for starting or building credit, WTF?!?!?!?
shafferd3021 5 months ago
GOD MOTHER $*$&% SON OF A *#%* $* TO THE HOLY $#%89 APPLESAUCE ....i missed a whole lot of young turk vids...what the hell happen tomy subscription box??
iudfr 5 months ago
And that is why I went back to Canada for college and grad school...
mlu007 5 months ago
Follow the old principle when it comes to loans.
Dont give dont take.
justmymage 5 months ago
We need to seriously look deep at our society's current problems and devise laws and regulations to make this country more fair and equal for everyone. The business cycle is broken; Business no longer needs to rely on its consumers in their country of origin to generate profit for them which they should re-invest in hiring so those people in-turn have more disposable income to spend on those businesses. Our credit system and global economy have solved that problem for them
6enlighten9 5 months ago
by getting a college education and ultimately a job within their country of residence. I personally have bypassed the job agenda (which obviously is never guaranteed) and have begun making $ the way they do; by long term investment gains, hedging on pullbacks and speculation on the global marketplace. Unfortunately not everyone should or could or wants to do that for a career and they shouldn't have to because overall it is not beneficial to societal growth.
6enlighten9 5 months ago
I find it irritatingly ironic that I as a united states tax payer have via taxes paid to keep certain institutions & their shareholders afloat while they continue to treat consumers and creditors as essentially financial serfs (someone who is working for some else's wealth and not their own because of borrowed opportunity.) By that logic I guess they should be owing society a debt by ensuring that the current generation of graduates feels comfortable enough to contribute to society as a whole
6enlighten9 5 months ago
The fact of the matter is that if a corp/business is getting subsidized by our collective taxes via govt, they should be required to use a portion of that saved $ to hire in their country of operation. This will give college student more incentive to take the leap to get in debt because they will feel more reassured that they will have a chance of finding a decent paying job in their specific field of study after grad.
6enlighten9 5 months ago
I am not blinded to the fact that school is a privilege that does not always pay off depending on choice of study. One can argue that this is because there is no law saying that corporations/business have to use the billions they save every year in tax subsidies or general profit to ensure that jobs are created in the united states. In fact many of them view high unemployment as a positive aspect that can help them cut costs associated with the cost of employment (salary and benefits)
6enlighten9 5 months ago
oh the monitor is actually used for something.
yes4me 5 months ago
"deceived" is the key word in this clip. Deception is the main tool of the system to get people in perpetual debt. Add a 30 year house mortgage, 5 year cars loans for then next twenty years and you have the ideal American citizen. Uninformed and in debt for the better part of his/her life.
MyTube22T 5 months ago
When you look at the way the cost of a college education has expanded over the last few decades, it's now reaching the point where students, even with loans, simply cannot pay the outrageous, unjustifiable fees that colleges are paying for a degree these days.
I personally think that the university degree is going to be the next big bubble and sometime soon it's going to bust.
prodprod 5 months ago
Not to mention the Monopoly on Textbooks. . .
bakedpootetoo 5 months ago
My student loans are 797 a month.. They would be nearly double that, but they were consolidated on the 30 year plan.. Was my education worth it? I think so, but it's been tough to save money/live.. If I lost my job, I'd need bankruptcy cuz I couldn't pay other debt.. The government got a lot more taxes out of me after my education, and I'm also paying a sh*load of loan costs.. and since interest rates are way down, I could save by refinancing, but the govt only allows that once..too late.
renoda 5 months ago
As I said on /. tiny url: 6bs9g2j 6epek84 6dharb7
or in huffingtonpost: 5r3rtbl
huge number of students end up with a worthless degree and a huge debt because gov't provides the loans, the universities/colleges jack up the prices simply because they know that the money will be transfered to them from the government and students are used as collateral.
watch?v=Q6DRXk9Ufv4 minute 26. Cummings comes off as an idiot, who wants more so called "education", and Schiff SCHOOLS him in Congress
romanmir01 5 months ago
EWW ana you look like a white girl....
XxMzt4RVLCNRYxX 5 months ago
This has been flagged as spam show
Hah! I don't have a clue as to how this comment got posted on this vid. Peace.
pr0t0typeB0Y 5 months ago
And this is why I'm opposed to the death penalty and to correct Ana, it costs more to keep a prisoner on death row than it does to impose a life sentence. Peace.
pr0t0typeB0Y 5 months ago
$625!!! Goddamn that's more that my rent!
Maxpound 5 months ago
This has been flagged as spam show
Obama is not going to do shit for our students. They are the future of America. If I were still in college I would be fucking furious. These for profit colleges are a God Damn scam as well. STUDENT'S are the new voice of America.
gorrellp 5 months ago
Comment removed
gorrellp 5 months ago
didn't the Young Turks do the Armenian Genocide? its like calling yourself 'The Nazis'...
cowofthemonth 5 months ago
@cowofthemonth
Lol ignorant fool.
mecher3k 5 months ago
Liberals beleive college is for everyone (when in fact its for the top 20% IQ wise) and so they force banks to give out student loans. The banks lend this money to people who don't have the IQ to put their college education to use (people who major in journalism and communicatiosn for example) and thus these people would bankrupt the debt if they could. Banks make sure they can't so they can make their money back. But to be fair banks like having people who owe them a lifetime of debts.
IMPALEXANDERAVG 5 months ago
@IMPALEXANDERAVG First off, Liberal have never said "College is for everyone". You Conservatives are experts in lying and slander! You Conservatives lie so much that if you looked at your watch and told us what time it is, we still wouldn't believe you!
publicatdamagnificen 5 months ago
@IMPALEXANDERAVG Education should be MUCH cheaper then it is so everyone has better access to education, therefor a better critical thinking society. But that's not what the elitist want. They want obedient workers. Obedient workers. Just knowledgeable enough to do their job, blindly going forward and accepting orders. They don't want a mass of people capable of critical thinking, or their rig would be up and their pyramid ponzi capitalist scheme would destroy itself quickly.
Xiquid 5 months ago 2
If they made it that student loans will disappear after u file for bankrupcy then shit, every student will borrow as much as possible and file for bankrupcy after they finish.
superphi 5 months ago
I'm still paying off my loan. 10 years later and they keep racking up my interest rates. If I keep paying I'll be fully paid off by age 46. It's very debilitating. I haven't used credit since 2002. I got my loan in 1999 when America had a functional economy. It's the constant upkeep and rate hikes that eventually destroy you.
sagemakaiserxl 5 months ago 2
If they made it so bankruptcy gets rid of loans, lenders would become more responsible.
rainxinxblack21 5 months ago 2
College loans are for 2 kinds of people: 1) for those who can't afford rip-off education costs and 2) for irresponsible suckers
AlexPanzerADT 5 months ago
What a nice system you have there America. Keep it up ^^
computerjero 5 months ago
College = banks holding your future hostage. Don't go to school and don't take out massive loan = work at BK for the rest of your life
Go to school, maybe get a good job in a good economy(not in Obama's shit economy), and have thousands in loans to pay off.
MrHav1k 5 months ago 5
21st Century slavery, and college campuses are the new plantations.
MrHav1k 5 months ago 4
FUCKING TYPICAL COLLEGE KID: SELF ENTITLED DOUCHE BAG WHO DIDN"T THINK ABOUT THE REPERCUSSIONS OF GOING TO THE MOST EXPENSIVE COLLEGE ASSUMING THAT JUST BECAUSE THEY ARE FROM THE SUBURBS THAT THEY WOULD GET A JOB , GET A SKILL
rajkeshnajahnde 5 months ago
This is why a lot of college student's sell their asses to pay for school... you literally need to whore your ass to live the american "dream"
28stads 5 months ago 4
@28stads or u were smart and got into the silver market last year
kirbyman1kanden7pf 5 months ago
@kirbyman1kanden7pf Ya, must be nice to have money to invest as a student... seriously?!
28stads 5 months ago
College and University are not for everyone. People think they are entitled to go to post secondary education and take on massive debt to do so. Pick up a skilled trade for fuck sakes, there are other options than getting into massive debt.
spiderpig85 5 months ago
@spiderpig85
But then you don't get hired. You need a degree to work at McDonalds now.
MrHav1k 5 months ago 17
@MrHav1k Yes you do. I have my high school diploma and make 6 figures. Its called a real job. Working in a fucking office isn't a real job.
spiderpig85 5 months ago
@spiderpig85
"A real job." lol. Have fun at mcdonalds bro. I don't know what fucked up world you live in where working in an office isn't a real job.
MrHav1k 5 months ago 20
@MrHav1k I work in the oil and gas industry. A real job.
spiderpig85 5 months ago
@spiderpig85
Oh, I see, so the tax payers are giving your ass subsidies, nice.......
eat a dick.
MrHav1k 5 months ago 5
@MrHav1k Lol. You dont even know how hard real work is kid. As far as subsidies go... EVERYTHING is fucking subsidized dumbass. Farmers are subsidized, and you eat, so your ass eats subsidies.
spiderpig85 5 months ago
@MrHav1k Sitting in front of a computer at a desk and fondling your dick isn't a real job
working with your hands, feeling tired at night, breaking a sweat
that's a real job. I know what kind of fucked up world you live in where sitting in front of a screen is a real job, It's called the year 2011, and it is fucked
blahmehblah1 5 months ago
@blahmehblah1
Eat a dick fag
MrHav1k 5 months ago
@Atakumosa Politics does that to many my friend im not too different :P!
The educational spirt is surely damped yes, class division, motivation ect. But if people focued on what they can bring to a job and not what education has specialised in as being a restriction they would perhaps be less disheartened, I do law perhaps i could be a legal journalist ect? If you are into a subject enough i feel you look into it enough in your own time, education state and personal is important
dunndudebemelol 5 months ago
@Atakumosa Policies over figureheads really although of course you would be stupid to think that the president is not important!
Well im personally a law student and it's a tough little market im working on volunterring in a legal advice centre and im good at say research ect it has uses outside of law and the various aspects of law can't hurt to know in any business situation. But yeah it is a big waste but in terms of what they can do it's still advancement real or potential i would say?
dunndudebemelol 5 months ago
This is discouraging.
My mom has been hounding me to transfer to a four year and get my BA but I am literally terrified. I told her I will transfer to one of the local Cal-States because I know I can get a grant to attend there. I have yet to get a loan and I really don't plan to.
stefers08 5 months ago
Someone really needs to look over these Financial Aid Officers out there forcing loans down students throats and feeding them bullshit about how their BA in Art History is going to guarantee them a 6 figure income. They do not do a thing to tell people about what they are getting into. It's just "here's a pen, don't blow all your loan money on a new, shiny laptop! *wink, wink*". Not to mention the fact they tell people to lie on the aid forms to qualify for more.
leptonsoup337 5 months ago
@Atakumosa That's true but the knowledge allows them to be trained in the workplace in terms of wisdom im personally doing a degree which is very academic and although my course is more skill based then most we have to learn it outside but we can still in some ways contribute to tax and advancement ect
dunndudebemelol 5 months ago
If TYT did Universities, they would be the greatest universities in the world!
Zuriki09 5 months ago
Do you guys have to pay if you earn less then a certain amount like us the in UK?
dunndudebemelol 5 months ago
@dunndudebemelol We get to put it of a few times, but not really, we just pay and pay. you may get on a program that takes a percentage of your pay, forever.
darbone 5 months ago
@darbone Thanks things make so much more sense now, we pay it only after earning a set wage works well, the govenment there seems to forget that to remain competitive it needs high end skills in my opinion
dunndudebemelol 5 months ago
Americans just cant handle money.
SIC66SIC66 5 months ago
@SIC66SIC66 congrats you just showed how much of a derp you are
Good day sir
mrspazshot 5 months ago
@mrspazshot
But he's right. Americans can't handle money. Responsibility isn't taught nearly as well as memorization in most American schools. School is used to prepare us for every standardized test we have to take to get into higher education, so instead of teaching critical thinking or responsible thinking students are just taught "OK. You need to know this, this, this, and that if you want to pass this test." Memorization and repetition in place of strategy and critical thought. It's bad
hoard88 5 months ago
@hoard88 Woah, I would be cautious not to single out America in being irresponsible with money. Look at current economic state in Europe and the reasons as to how they got there.
harmon756 5 months ago in playlist More videos from tytuniversity
@mrspazshot Prove me wrong, sir :)
SIC66SIC66 5 months ago
@SIC66SIC66 i am everyday i get up and smoke a bowl and go about day in a peaceful manner
money thankfully hasnt been a problem for me :3
mrspazshot 4 months ago
How many of those are arts majors I wonder?
Wolfau5 5 months ago
signon.org/sign/want-a-real-economic.fb1?source=s.fb&r_by=682277
Sockpirate86 5 months ago
what happens if you do not pay? say you ignore paying..
hamzeeco 5 months ago
@hamzeeco They start garnishing your wages and going after your cosigners, if you have any. Government loans are more forgiving, but private loans never go away.
AnarchoHumanist 5 months ago
@AnarchoHumanist modern slavery
hamzeeco 5 months ago
Bankrupcy costs everyone, so fix it. To the students, get a huge bill and write it off. aftewr a few years you can use your degree and make up for lost time and money. Screw the system that screws you.
baalisgod666 5 months ago
I wanted to do a Bachelor of Biology, but saw the bogus bill and decided to stay happily unemployed. Now the nation has one less scientist and a burden to pay for. Ultimately, it's their fault because I am not a cash cow.
I will never pay tax so fuck the government.
baalisgod666 5 months ago
This kind of thing is what Income contingent repayment plans (offered for federal aid) are for. Yes, it's real shitty to have it hanging over your head like that, but at least you won't have to break yourself keeping up payments.
robfathah 5 months ago
The worst part of it all is the fact that most of these students signed off on these loans at the age of 18. Student loan companies are the worst at taking advantage of young adults who wish only to lead a good life and pursue the American dream.
Bliscambridge33 5 months ago
I pay $550 a month. It's a pin in the ass. I have approximately $65,000 left to pay off... that's not counting interest.
ERAUPRCWA 5 months ago
I fell into this and got cancer and couldn't pay, didnt pay for 6 years and you know what im fine. Living with parents as they do understand cause I am the first to go to college. I have one more year to go and that will be wiped off my record , ill have my credit back , and I can start over this time smarter.
HeirOfGlee 5 months ago
625/month? That's it? When I'm done with med school, it'll be 2k/month.
sonofsarek 5 months ago
Bankruptcy councillors charge a fixed rate regulated by the government
easternwarbird 5 months ago
I joined the army to pay off $60K of my debt - thankfully I was never deployed. If you want information about the best way to do this, message me - I made some key mistakes and would have done things differently.
noslen1968 5 months ago
Can you imagine if the money borrowed (to go to war)had gone toward investing in green tech? $14 T and you would have had green jobs, healthy lungs and unknown plethora of positive repercussions down the road. Instead, Enron and MIC etc gets a boner so it can rape boney cancerous/starving asses everywhere and it's CEO's can buy useless garbage for their revolting descendants to inherit/shit all over.
Humans are SO FUCKING STUPID! QUIT TRYING TO PAY THEM BACK FOR ROBBING YOU!!!
helioncry 5 months ago 4
Worked full-time all through undergrad, so it only took a few years to pay off that student loan. Graduated 6 months before 9/11. Couldn't find a job, went to grad school. Still owe 43k 10 years later. Was a big mistake. Paying 200 a month, but trying to pay extra when I can.
flowergirl1313 5 months ago
I just hit the 5k mark for students loans and I feel like im screwed but im in my 3B term....
I think ill be good in the end. And sadly, this video made me feel a lil better knowing that I probably doing pretty decent.
Jaywed 5 months ago
student's responsibility to get the right major to get the right job with hard work and perseverance to eventually pay off the student loan debt.
other than that, SCHOLARSHIPS. Best invention of the world, money given away by people who WANT to help students out. Long and tedious process but so worth it in the end.
kmelfina 5 months ago
@kmelfina Scholarships, and send back extra when you get it if you can. (Not always an option and not everybody gets extra money from federal/state aid, but when you can...)
robfathah 5 months ago
College.....it's just too fucking expensive.
DntlB 5 months ago 3
This is so depressing =[
pinkdragonflyx3 5 months ago
Students who can't afford loans for college should realise there are other options. I would rather have no degree be debt free and teach myself for educational satisfaction. I would do other courses that are much cheaper and go into a job and work my way up..... financial entrapment isnt our only option.
nriab23 5 months ago
Thank gandhi my parents put aside money and are paying for my college costs. Although technically I'm supposed to eventually pay them back, but pretty sure they'll forget about it.
MyPaperBleedsInk 5 months ago
americans should go to sweden to get an education for free. we have plenty of programs in english. and a one bedroom apt cost under 500 dollars/month.
AtheistSwede 5 months ago
Join the military my school is paid for and I get a check every month. My day consists of pumping iron,school and boxing in the evening. I also bounce on the side so yeah doing the military route was the best decision I made.
frank22amaya 5 months ago
Makes me happy to be in Canada. Our tuition fees are about half as much as American tuition fees.
Chaoitcme 5 months ago 3
@Chaoitcme Not even half... !
Khuntastik 5 months ago
@Khuntastik Yeah it is actual about a fourth.
Chaoitcme 5 months ago
@Chaoitcme tbh yeah, more something like that...let's hope it's stay like that :D
Khuntastik 5 months ago
this makes sense and is horrible and this is why people dont feel like going to colleges any more
kazooga1234 5 months ago 3
UOP!!!!!!!!!!!
RikkiTikkiTaviNaga 5 months ago
In theory you could take out a regular bank loan, pay off your student loan with that and then go bankrupt and the bank loan would be wiped. However, you might not want to mention the purpose of the loan when you do that :o)
Gisburne2000 5 months ago 7
@Gisburne2000 sounds like bank robbery
kirbyman1kanden7pf 5 months ago
too bad we aren't ready for revolution. We could have free living, health care, and schooling.
Silents30 5 months ago 2
paying $625 and i'm still in college Xd
Silents30 5 months ago
The California bankruptcy system is fucking stupid, where I'm from if you file for bankruptcy, it takes all debts, all loans including student loan, and puts it on the taxpayer.
and you are indebted to the bankruptcy agency for minimum of 7 years, but it costs you way less.
What is the point of filing for bankruptcy if it doesn't get rid of the debt you can't pay?
crackerz99 5 months ago
Student loans are non-bankruptable, stupid shit kids. Read what you're signing.
MaicoMoon 5 months ago
You forgot about medical debt. I would say thats a huge reason people go bankrupt. What are you suppose to do if your sick but make under 20k. Your health is more important than your credit.
irishfury 5 months ago
So basically, college still costs too much. Study abroad if you're smart enough and are able to learn another language.
NeccoWecco 5 months ago 4
@NeccoWecco actually, many overseas universities hold classes in English.
dangerouslytalented 5 months ago
@dangerouslytalented If you're going to go to a public school in the EU, you're going to have to learn the language of the country or specific area. If you were to go to Spain, France, Germany, Italy... While some people do know English, it's often very limited and it's not assured that all your professors or all your classes will be in English. Besides... what if you've to open a bank account, call the police, go to the hospital, post office etc. I'm speaking from self experience:)
NeccoWecco 5 months ago
@dangerouslytalented As I said... "While some people do know English, it's often very limited and it's not assured that all your professors or all your classes will be in English." Besides... why would you want to limit what you learn out of laziness to learn a language?
NeccoWecco 5 months ago
Pretty Ana!
h3wlett 5 months ago 45
@h3wlett Think about the content of the video please.
trinikagekavir 5 months ago
@h3wlett I thought that said anal for a second...
spiderpig85 5 months ago
@h3wlett You and the ones who thumbed you up must either be Jews like her, or you must look like apes to think that Anna is pretty
Fucking big nosed Jew! :)
jordana8899 5 months ago
@jordana8899 Why would you call someone a ''fucking big nose Jew"? Did a Jew kick your ass and take your woman? I'm not Jewish, but you are an inbred piece of white trash.
publicatdamagnificen 5 months ago
2nd or first
NeccoWecco 5 months ago
@NeccoWecco shut the fuck up. :3
ado0101 5 months ago 19
@ado0101 I never said a word :)
NeccoWecco 5 months ago